Walgreens announces plans to close 1,200 stores — but the exact locations remain a mystery
2 months, 3 weeks ago

Walgreens announces plans to close 1,200 stores — but the exact locations remain a mystery

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Walgreens plans to close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround its struggling U.S. business. The company said Tuesday that about 500 store closures will happen in its current fiscal year and should immediately help adjusted earnings and free cash flow. Walgreens Boots Alliance Inc. leaders said in late June that they were finalizing a turnaround plan for its U.S. business, and that push could result in the closing of hundreds of underperforming stores.

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History of this topic

Walgreens is in particularly awful shape
4 weeks ago

Walgreens is in particularly awful shape

CNN  

New York CNN — Drug stores around the United States are struggling. Walgreens has slipped behind CVS because it’s smaller than CVS, giving it less scale to negotiate prices with insurers and other health care entities that pay for most of the prescriptions people pick up. Walgreens is also more reliant on filling prescriptions through its pharmacy business and selling …

Walgreens stock surges on report that it could be taken private
4 weeks, 2 days ago

Walgreens stock surges on report that it could be taken private

CNN  

New York CNN — Walgreens is reportedly looking to take itself private in a deal with Sycamore Partners, sending the stock nearly 20% higher Tuesday. Since Sycamore focuses on smaller deals it “would likely sell off pieces” of Walgreens to make the acquisition more financially manageable, the Journal said. He added that Sycamore could sell off UK chain Boots to …

Nearly 30% of US drugstores closed in one decade, study shows
1 month ago

Nearly 30% of US drugstores closed in one decade, study shows

Associated Press  

Nearly three out of 10 U.S. drugstores that were open during the previous decade had closed by 2021, new research shows. Black and Latino neighborhoods were most vulnerable to the retail pharmacy closures, which can chip away at already-limited care options in those communities, researchers said in a study published Tuesday in Health Affairs. The study found that more than …

Walgreens plans to close 1,200 stores; its stock price sees a double-digit jump
2 months, 3 weeks ago

Walgreens plans to close 1,200 stores; its stock price sees a double-digit jump

LA Times  

Walgreens plans to close about 1,200 stores over the next three years in an effort to improve earnings and increase cash flow. Walgreens plans to close about 1,200 stores over the next three years in an effort to improve earnings and increase cash flow, the struggling company announced Tuesday. The downsizing plan by Walgreens Boots Alliance will target 500 stores …

Walgreens to close 1,200 stores across U.S.
2 months, 3 weeks ago

Walgreens to close 1,200 stores across U.S.

Salon  

Walgreens said Tuesday it will close 1,200 stores across the U.S. over the next three years to try to recover from financial struggles that include billions of dollars in losses. The company's fourth-quarter sales and profit beat Wall Street’s expectations and “reflected our disciplined execution on cost management, working capital initiatives and capex reduction,” company CEO Tim Wentworth said in …

CVS and Walgreens close stores — rethink their role in our lives
2 months, 4 weeks ago

CVS and Walgreens close stores — rethink their role in our lives

NPR  

CVS and Walgreens close stores — rethink their role in our lives CVS and Walgreens are ailing. CVS and Walgreens are closing hundreds of stores and rethinking their role in our lives. They've gobbled up mom-and-pop shops, signed long leases for prime real estate, and now Walgreens says a quarter of its stores don't make money. There have been constant …

Drugstores tinker with new looks as their usual way of doing business faces challenges
5 months ago

Drugstores tinker with new looks as their usual way of doing business faces challenges

The Independent  

Get Nadine White's Race Report newsletter for a fresh perspective on the week's news Get our free newsletter from The Independent's Race Correspondent Get our free newsletter from The Independent's Race Correspondent SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Everyone looks at health care and says, ‘Oh yeah, it’s a market …

Big Lots is set to close up to 40 stores as future of retailer is in doubt
5 months, 2 weeks ago

Big Lots is set to close up to 40 stores as future of retailer is in doubt

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Discount retailer Big Lots …

Drug store chains pushed out independent pharmacies. Here’s why they’re now closing too
6 months, 1 week ago

Drug store chains pushed out independent pharmacies. Here’s why they’re now closing too

CNN  

New York CNN — Walgreens said Thursday that it plans to close a “significant” number of its roughly 8,600 stores in the United States. Walgreens said in 2019 it would close 200 stores and last year announced an additional 150 store closures. Shifting trends Drug store chains are struggling because of falling reimbursement rates for prescription drugs, according to analysts …

Large US pharmacy chain to close more stores
6 months, 1 week ago

Large US pharmacy chain to close more stores

China Daily  

FILE PHOTO: A Walgreens logo is seen outside its store in New York City, September 18, 2013. REUTERS/Mike Segar /File Photo Walgreens, one of the largest pharmacy chains in the United States, announced plans on Thursday to close a substantial number of its approximately 8,600 locations over the next three years because they are "underperforming". We are at a point …

Walgreens to take a hard look at underperforming stores, could shutter hundreds more
6 months, 1 week ago

Walgreens to take a hard look at underperforming stores, could shutter hundreds more

Associated Press  

Walgreens is finalizing a plan to fix its U.S. business that could result in closing hundreds of additional stores over the next three years. CEO Tim Wentworth told analysts Thursday morning that “changes are imminent” for about 25% of the company’s stores, which he said were underperforming. Wentworth said the company’s plan could include the closing of a “significant portion” …

Walgreens woes continue with earnings miss, guidance cut and plans to shutter more stores
6 months, 1 week ago

Walgreens woes continue with earnings miss, guidance cut and plans to shutter more stores

LA Times  

Walgreens is finalizing a plan to fix its business that could result in the closure of hundreds of additional stores in the next three years. Chief Executive Tim Wentworth told analysts Thursday morning that “changes are imminent” for about 25% of the company’s stores, which he said were underperforming. Walgreens shares tumbled early Thursday after the drugstore chain also said …

Store closures are rocking the US market. Here’s the restaurants and retailers shutting their doors
6 months, 4 weeks ago

Store closures are rocking the US market. Here’s the restaurants and retailers shutting their doors

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery A customer walks into …

True scale of US retail bloodbath revealed: How a 5,500 shops have closed in just one year... and even big names Walmart, Bed Bath & Beyond and Nike have suffered
8 months, 3 weeks ago

True scale of US retail bloodbath revealed: How a 5,500 shops have closed in just one year... and even big names Walmart, Bed Bath & Beyond and Nike have suffered

Daily Mail  

US retailers shut a total of almost 5,500 stores in 2023 - with major corporations like Bed Bath & Beyond, Walgreens and Rite Aid leading the pack. Total closures were 5,463 in 2023, a 30 percent increase on 2022 Bed Bath & Beyond reported it would shut 866 stores, far more than any other retailer Many retailers, like Walgreens, pointed …

Macy’s closes 150 stores – see if yours is on the list
10 months, 1 week ago

Macy’s closes 150 stores – see if yours is on the list

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Macy’s has announced plans …

Walgreens pharmacy staffers stage walkouts over work conditions
1 year, 2 months ago

Walgreens pharmacy staffers stage walkouts over work conditions

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Some Walgreens pharmacy staff walked …

CVS says it will close NINE HUNDRED stores by the end of 2024 - 10% of all its shops - as it moves to online strategy amid rampant increase in shoplifting
1 year, 3 months ago

CVS says it will close NINE HUNDRED stores by the end of 2024 - 10% of all its shops - as it moves to online strategy amid rampant increase in shoplifting

Daily Mail  

Rival Walgreens also plans to shut 150 stores as part of a modernization drive CVS is set to close hundreds of stores across the country as it undergoes a complete retail overhaul – as more outlets move towards online sellers amid rampant increases in crime. The chain's stock price rose after the 2021 announcement stores would be closed as part …

Walgreens Bows To GOP Pressure, Won't Sell Legal Abortion Pill In Some States
1 year, 10 months ago

Walgreens Bows To GOP Pressure, Won't Sell Legal Abortion Pill In Some States

Huff Post  

LOADING ERROR LOADING Walgreens confirmed Thursday that it will not sell abortion pills in states where attorneys general object to its distribution, even in states where that method of abortion remains legal. The pharmacy giant announced the decision after Republican attorneys general from 20 states sent a letter to the company threatening lawsuits if it attempted to mail abortion medication …

CVS, Walgreens are locking up more products behind plexiglass, but that won't stop pharmacy chains' broader decline.
2 years, 1 month ago

CVS, Walgreens are locking up more products behind plexiglass, but that won't stop pharmacy chains' broader decline.

Slate  

In September, on an earnings call with investors, Rite Aid’s executive vice president of retail, Andre Persaud, floated an idea to improve the chain’s performance in New York City: turn the drugstore into one giant vending machine in order to fight shoplifting. Then came post-pandemic closures this year, and CVS’ announcement that it would shutter 900 stores over the next …

Walgreens earnings slide as number of vaccinations wane
2 years, 6 months ago

Walgreens earnings slide as number of vaccinations wane

Associated Press  

A big opioid settlement and a COVID-19 vaccine slowdown dragged on third-quarter earnings for Walgreens, but the drugstore chain still topped expectations. Walgreens CEO Rosalind Brewer told analysts in January that the company would explore strategic options for that business so it could focus more on U.S. health care. Brewer said then that Walgreens was creating an entity “that does …

San Francisco mayor London Breed says Walgreens closing five stores is unrelated to shoplifting
3 years, 2 months ago

San Francisco mayor London Breed says Walgreens closing five stores is unrelated to shoplifting

Daily Mail  

San Francisco mayor London Breed has disputed Walgreen's claims it needs to shutter five stores in the city because its soft laws on shoplifting have led to rampant theft, claiming that the big chain was simply trying to slash costs and increase profits - and that retail theft was an easy scapegoat. One of the stores closing, pictured above, was …

Walgreens close wave of San Francisco stores over ‘organised’ shoplifting despite city’s promise to crack down on retail theft
3 years, 2 months ago

Walgreens close wave of San Francisco stores over ‘organised’ shoplifting despite city’s promise to crack down on retail theft

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Walgreens will close five …

Macy’s will close 125 stores in the next three years
4 years, 11 months ago

Macy’s will close 125 stores in the next three years

CNN  

New York CNN Business — Macy’s said Tuesday that it will close 125 stores over the next three years, nearly one fifth of its total locations, in another blow to American department stores. Macy’s planned closings follow years of struggles at US department stores, which have been bruised by the rise of Amazon and the expansion of low-price clothing chains …

Walgreens tumbles on poor sales and weak outlook
5 years, 9 months ago

Walgreens tumbles on poor sales and weak outlook

CNN  

New York CNN Business — Nothing is going right for Walgreens Boots Alliance. Walgreens and its key rival CVS face a litany of challenges, including lower prices for generic drugs and a persistent decline in reimbursement rates for medications from state and federal government health care plans. He added that the company has begun to address its numerous challenges, but …

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